Emmanuel OchayiSimbi Wabote, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) has stated that African countries must prioritize local capabilities to unlock economic growth.
Speaking at the 2023 Africa Energy Week, he said, “African nations seeking to achieve economic prosperity must develop local capabilities.”
Wabote harped on the need for competence in key sectors like Engineering, Procurement, Construction, Fabrication, Installation, Commissioning, and Operation to retain job opportunities, revenues, and skills within the continent.
The NCDMB executive secretary ,who made the submission in his presentation at the 2023 Africa Energy Week in Cape Town, South Africa, recommended making local content a national agenda, backed by suitable legal frameworks.
Using Nigeria as an example, he highlighted the impact of enacting the Nigerian Oil and Gas Industry Content Development Act.
Wabote also underscored the importance of addressing local peculiarities and providing structured capacity building, funding, and incentives.
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He emphasized patronage of in-country capacities and revealed the NCDMB’s progress towards its 70% Nigerian content target by 2027, having achieved 54% by the end of 2022.
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